The company believes that short-haul urban transport is the current greatest market opportunity for fleet electrification, adding that this is a market in which operator demand, logistical viability, political support and environmental benefit are all aligned. There are six million medium-duty commercial vehicles, representing a $40bn (€30bn) market across North America, Europe and Asia-Pacific. The company estimates that a significant portion of these vehicles service short-haul routes in urban centres, and is targeting this segment for fleet electrification.

It adds that customers who work with Smith Electric to transform their fleets save an estimated 70% annually on fuel and maintenance during the life of the vehicle and eliminate all vehicle-based emissions.

‘We do not think in terms of the truck; we think in terms of full end-to-end fleet transformation and all its associated benefits. This delivers substantial economic and commercial benefits for our customers and helps drive the growing demand for our product,’ commented Bryan Hansel, chief executive officer of Smith Electric. 

He added: ‘With these important milestones achieved, Smith will be positioned to move fully into commercial scale manufacturing and enable electric fleet transformations around the world. Most importantly, we have first mover advantage in a vast global market for full fleet transformation. We look forward to the future with confidence.’